Others such as Chris Terry of lending platform SmartFi say they expect bitcoin to trade in a fairly narrow range in the short term. “The feeling of the trading desk is that if bitcoin stays in the $18,000 to $20,000 [range], it’s going to be a long drawn out, and we could be in this trading range now for weeks,” he said. Source link

The richest non-exchange Bitcoin wallet is on a BTC shopping spree as the crypto market downturn continues. The wallet, ranking third in Bitcoin holdings behind two crypto exchange wallets, bought 4,816 BTC over the past month, splurging over $102 million in the process. At the start of June, the Bitcoin wallet in question held 127,873 BTC. Over the last month, the wallet has made numerous Bitcoin acquisitions in varying amounts and only one withdrawal to bring the total to… Source link

President of El Salvador Nayib Bukele must truly believe in Bitcoin—or love losing money. Undeterred by the massive losses incurred by his strategy of using public funds to invest in Bitcoin, Bukele announced last night that he spent another $1.5 million to buy 80 BTC at $19,000 per coin. “El Salvador bought today 80 BTC at $19,000 each,” the Central American politician tweeted, “Bitcoin is the future, thanks for selling cheap,” he said. Prior to this latest announcement, Bukele had… Source link

Ethereum [ETH] concluded June with a 27% bearish push in the last five days of the month after enjoying a brief relief rally. The bearish end of June resulted in the token dropping below $1,000, followed by a pullback. Could this be a sign of a strong buy wall within the $1,000 price level? June was one of the most bearish months for ETH in recent history. It dropped from a monthly high of $1,972 at the start of the month, to a monthly low of $881 on 18 June. ETH fell below… Source link

Litecoin price analysis reveals that the LTC/USD prices have spiked high as the bullish momentum continues to inflate. The current market trend is very strong and there is a possibility that the prices might test the $58.00 resistance level soon. For now, support for Litecoins price is present at $50.39. The LTC/USD prices have been on a bullish run for the last 24-hour and this rally has taken the prices to new yearly highs. The price has increased by over 5 percent in the past 24 hours… Source link

As the crypto winter bites deeper, on-chain metrics suggest that confidence among Bitcoin whales has far from waned. The leading cryptocurrency is currently trading under $20,000, down 35% year-to-date, and down as much as 71% from its all-time high of about $69,000 in November last year. During massive sell-offs like this, many investors liquidate their positions. This, however, does not appear to be the case when it comes to those who hold more than 1,000 BTC. Fresh data from IntoTheBlock… Source link

Following a move below $19,000 on Thursday, BTC was able to rise above $20,000 during today’s trading session. ETH also was able to remain above $1,000, following an attempt by bears to push price under this level during yesterday’s session. Bitcoin Bitcoin was trading marginally higher on Friday, as markets rebounded following a bearish session on Thursday. Despite a heightened level of volatility, the world’s largest crypto token climbed to an intraday peak of $20,632.67… Source link

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to raise awareness for the current L1 ecosystem: While Ethereum allowed decentralized finance (DeFi) to flourish in 2020,… Source link

Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Digital Money has added 3.47% to $113.81. InvestorsObserver is giving Monero a 39 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero! Moderately Volatile InvestorsObserver gives Monero a moderate volatility rank of 39, placing it in the bottom 39% of cryptos on the… Source link

Arman Shirinyan Coinbase market makers are no longer selling Bitcoin, but it might not be enough for bounce The Coinbase Premium Index is a tool for determining the difference between Bitcoin’s price on Coinbase Pro and exchanges like Binance. The premium or discount on the index tells us if institutional investors are actively selling or buying the spot asset, which is a direct indicator of market sentiment. Previously, the CryptoQuant analyst noted that for the last 45 days,… Source link